Epstein Secrets

i perspective analysis Real estate: a significant push to boost aflordable housing and mortgage access A big focus on addressing the . deficit... Utilities: a bold agenda Ina short timeline 8 ≤:rategiv !flitiatives in the N irg subsidies Oefence: sustained government focus In, tase:g scope d rele SUp

ludes Aramco at $ltrn and 5% listing). We could see inflows of $20-40bn vs $113n ADV. Foreign ownership less than 1%. On the Saudi gnvt changes-. Mohamed Bin Salman (MBS) has replaced his uncle Mohamed Bin Naif (MBN) as Crown Prince. MBS, the 31 year old son of King Selman, is now heir to the throne. Although thi

n and 5% listing). We could see inflows of $20-40bn vs $113n ADV. Foreign ownership less than 1%. On the Saudi gnvt changes-. Mohamed Bin Salman (MBS) has replaced his uncle Mohamed Bin Naif (MBN) as Crown Prince. MBS, the 31 year old son of King Selman, is now heir to the throne. Although this has

s than 1%. On the Saudi gnvt changes-. Mohamed Bin Salman (MBS) has replaced his uncle Mohamed Bin Naif (MB

ors —2011 Worst Performance Sectors Payout Ratios are at Historic Lows Jan-10 Apr-10 Source: Bloomberg, As of 1/4/12 Jul-10 Oct-10 Jan-11 9 Utilities, Healthcare, Telecom I Financials, Materials, Industrials Apr-11 Jul-11 Oct-11 Jan-12 J.P.Morgan EFTA_R1_02049751 EFTA02696373 Tactical Op

Jul-11 Sep-11 Nov-11 Jan-12 Buy Private Label MBS 100 - 90 80 70 60 50 - 40 - 30 - Prime F

and electricity tariff hikes Types of =upport for the sector from the government Healthcare: no =urprises Telecom: =owards the end of the tunnel? Utilities: a =alancing fund to manage the transition Commodities: as =ood as it gets for OPEC Disclosures Research =nalysts lean-Michel Saliba MENA Econom

CI / FTSE index inflow =imelines • Crown Prince MBS will appear on '60 =inutes' on March 18th, one da